Optimising your Efficiency
Most business owners don’t set out to build inefficient systems. A spreadsheet here. A manual process there. A workaround that becomes…
Read the articleWhat is Patent Box?
- In an effort to further reward innovative companies, in 2009 the UK Government announced an initiative called ‘the Patent Box' which gives a reduced effective rate of corporation tax to 10% for any companies making an income from patents.
- The relief has been phased in from 1 April 2013 and the full benefit of the Patent Box has been available from 1 April 2017.
- Relief is not compulsory, a company must elect into the regime and needs to be careful with this if there are potentially patent box losses.
Who qualifies?
Your company will qualify for relief if it:
- Owns patents, or
- Owns an exclusive licence to exploit a patent
- Must be UK, specific EEA country or EU patent (& certain other rights)
- No other IP – not trademarks, designs, copyrights etc.
